4 Things To Look for When Searching for a Lawsuit Funding Company
Believe it or not, you can seek financial relief before your case even settles. FCA Legal Funding offers legal funding in Los Angeles & all of Southern California, and the process is simple. You need no collateral or credit, and don’t pay back unless your case wins. Legal funding companies are in growing demand, but do you know what to look for in your lawsuit funding company?
If you have been injured and are unable to work, a lawsuit against a negligent party can take a long time. Disaster can ensue if you are strapped for cash. Here is what you want to look for in a firm that offers personal injury legal funding.
1. Clear Terms
The agreement should be written so you can understand the terms. They should seem fair too. While the company’s representatives should work to help you understand the agreement you sign, ask your attorney for help. A consultation will make sure you fully understand the contract and give you some peace of mind as well.
2. Simple Process
A personal injury lawsuit is a complex, costly, and stressful process. FCA Legal Funding simplifies it by providing a basic online form that asks for your basic information, how much you are asking for, and your lawyer’s contact details. Only the facts of your case are considered. We also deliver funds within 24 hours of consulting with your attorney and reviewing the case. No middleman is involved.
3. Low Interest Rates
Avoid a company that charges a flat rate. Interest rates should vary on a case-by-case basis based on the level of risk. Ask what your monthly rate will be before signing the agreement; this information should be available as soon as an underwriter starts working on your case. Also, look for a company that offers a monthly compounded rate rather than a range of percentages.
4. Non-Recourse Funding
No-recourse funding means you pay only if the case wins. You don’t want to be required to pay if no settlement is reached, and this would account for a personal loan anyway, which tends to have higher interest rates and be tied to your credit. That would result in you enduring even more financial hardship at a time you least need it.
Broker or Direct Pre-Settlement Funding
With FCA Legal Funding, there is no middleman and no hidden fees. A broker can connect you to a funding company but serves as a middleman working off a commission. Their primary objective is to have you sign a deal, which may not be the best opportunity. Working with a broker can add significant costs to your contract.
For the best deal, you want to work with a direct pre-settlement funding company. Providing legal funding in Los Angeles, FCA offers a direct Financial Relief Program to cover all your daily expenses as a plaintiff. You pay nothing out of pocket and we provide a simple, paperless process that requires a quick online application to get started. We offer same-day funding and term-based payback (no win, no repayment).
Once you apply for funding, we’ll launch a preliminary investigation with your attorney to determine who is liable, whether your injuries were caused by the accident, and which insurance provider should provide the compensation. Legal funding is available for clients with the following cases:
- Auto accidents
- Personal injury
- Product liability
- Labor law
- Pharmaceutical drugs
- Medical devices
- Accounts receivables
- Athlete injuries